Panama is the 83rd largest export economy in the world. In 2016, Panama exported $25.4B and imported $74.6B, resulting in a negative trade balance of $49.1B. In 2016 the GDP of Panama was $55.2B and its GDP per capita was $23k.

Exports

In 2016 Panama exported $25.4B, making it the 83rd largest exporter in the world. During the last five years the exports of Panama have increased at an annualized rate of 729B%, from $12.6B in 2011 to $25.4B in 2016. The most recent exports are led by Packaged Medicaments which represent 6% of the total exports of Panama, followed by Passenger and Cargo Ships, which account for 3.36%.

Imports

In 2016 Panama imported $74.6B, making it the 60th largest importer in the world. During the last five years the imports of Panama have increased at an annualized rate of 584B%, from $51.9B in 2011 to $74.6B in 2016. The most recent imports are led by Passenger and Cargo Ships which represent 9.8% of the total imports of Panama, followed by Refined Petroleum, which account for 5.3%.

Origins

Economic Complexity of Panama

Product Space

The product space is a network connecting products that are likely to be co-exported and can be used to predict the evolution of a country’s export structure.

Panama exports 209 products with revealed comparative advantage (meaning that its share of global exports is larger than what would be expected from the size of its export economy and from the size of a product’s global market).